8,207 Shares in Jackson Financial Inc. $JXN Acquired by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC acquired 8,207 shares of Jackson Financial Inc. valued at approximately $729,000 during the second quarter.
• Jackson Financial's board has initiated a $1.00 billion stock repurchase plan, allowing the buyback of up to 14.4% of its stock, signaling management's belief that the stock is undervalued.
• The firm declared a quarterly dividend of $0.80 per share, representing a 3.1% yield, with a dividend payout ratio of -5,333.33%.

Counterpoint Mutual Funds LLC purchased a new position in Jackson Financial Inc. (NYSE:JXN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,207 shares of the company's stock, valued at approximately $729,000.

Other hedge funds also recently modified their holdings of the company. Amundi raised its holdings in shares of Jackson Financial by 90.1% in the 1st quarter. Amundi now owns 143,795 shares of the company's stock worth $12,047,000 after purchasing an additional 68,138 shares during the period. GAMMA Investing LLC raised its holdings in shares of Jackson Financial by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 2,108 shares of the company's stock worth $177,000 after purchasing an additional 330 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Jackson Financial by 13.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,635 shares of the company's stock worth $388,000 after purchasing an additional 547 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Jackson Financial by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 429,789 shares of the company's stock worth $36,008,000 after purchasing an additional 11,805 shares during the period. Finally, Richard Bernstein Advisors LLC bought a new stake in shares of Jackson Financial in the 1st quarter worth approximately $3,069,000. Institutional investors own 89.96% of the company's stock.

Jackson Financial Stock Up 1.7%

Shares of NYSE:JXN opened at $102.55 on Tuesday. Jackson Financial Inc. has a 52-week low of $64.70 and a 52-week high of $115.22. The firm has a fifty day moving average of $93.44 and a 200 day moving average of $86.05. The firm has a market capitalization of $7.14 billion, a PE ratio of -1,708.88 and a beta of 1.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.28 and a current ratio of 0.28.

Jackson Financial (NYSE:JXN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $4.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.26. Jackson Financial had a net margin of 1.73% and a return on equity of 14.73%. The business had revenue of ($471.00) million during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the business posted $5.32 earnings per share. The company's revenue was down 3.3% on a year-over-year basis. As a group, research analysts anticipate that Jackson Financial Inc. will post 20.55 EPS for the current fiscal year.

Jackson Financial announced that its board has initiated a stock repurchase plan on Thursday, September 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 14.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Jackson Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Monday, September 15th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, September 15th. Jackson Financial's dividend payout ratio is presently -5,333.33%.

Wall Street Analyst Weigh In

A number of research firms recently commented on JXN. Morgan Stanley lifted their price target on shares of Jackson Financial from $92.00 to $97.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. Zacks Research lowered shares of Jackson Financial from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Barclays lifted their price objective on shares of Jackson Financial from $108.00 to $114.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Jackson Financial from $102.00 to $105.00 and gave the company a "market perform" rating in a research note on Monday, August 11th. Finally, Jefferies Financial Group lifted their price objective on shares of Jackson Financial from $88.00 to $95.00 and gave the company a "hold" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Jackson Financial has a consensus rating of "Hold" and a consensus price target of $101.20.

Jackson Financial Company Profile

Jackson Financial Inc, through its subsidiaries, provides suite of annuities to retail investors in the United States. The company operates through three segments: Retail Annuities, Institutional Products, and Closed Life and Annuity Blocks. The Retail Annuities segment offers various retirement income and savings products, including variable, fixed index, fixed, and payout annuities, as well as registered index-linked annuities and lifetime income solutions.

Want to see what other hedge funds are holding JXN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jackson Financial Inc. (NYSE:JXN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.